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Lion Asiapac warns of Q1 loss

MAINBOARD-LISTED Lion Asiapac warned on Saturday that it expects to report a loss for the first quarter ended Sept 30, due primarily to unrealised exchange loss arising from the depreciating Chinese yuan.

It added that the profit guidance was based on a preliminary review of its Q1 results, with further details to come when it announces its results on Oct 31. The diversified investment holding company advised shareholders and potential investors to exercise caution when dealing in its shares.

Lion Asiapac shares closed down one Singapore cent, or 2 per cent, at S$0.49 on Friday.